Mutual of America Capital Management LLC Purchases Shares of 10,363 Laboratory Co. of America Holdings (NYSE:LH)

Mutual of America Capital Management LLC purchased a new position in Laboratory Co. of America Holdings (NYSE:LH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,363 shares of the medical research company’s stock, valued at approximately $2,316,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. acquired a new position in Laboratory Co. of America in the 2nd quarter valued at approximately $27,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the third quarter valued at $29,000. Pathway Financial Advisers LLC purchased a new position in Laboratory Co. of America in the first quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America in the 2nd quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Finally, HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Laboratory Co. of America Trading Down 0.2 %

Shares of NYSE LH opened at $239.67 on Monday. The firm has a 50 day moving average price of $226.12 and a two-hundred day moving average price of $217.14. The stock has a market cap of $20.05 billion, a P/E ratio of 46.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business posted $3.38 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.20%. Laboratory Co. of America’s payout ratio is 55.71%.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.